Essex Financial Services Inc. Grows Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Essex Financial Services Inc. increased its stake in Global Net Lease, Inc. (NYSE:GNL) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,069 shares of the financial services provider’s stock after purchasing an additional 2,069 shares during the quarter. Essex Financial Services Inc.’s holdings in Global Net Lease were worth $120,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Net Lease during the 3rd quarter valued at about $26,000. Gradient Investments LLC increased its holdings in Global Net Lease by 98.9% during the third quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,463 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Global Net Lease during the fourth quarter valued at approximately $31,000. Spire Wealth Management raised its position in Global Net Lease by 221.9% in the third quarter. Spire Wealth Management now owns 3,299 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 2,274 shares during the period. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Global Net Lease during the 3rd quarter worth $34,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

NYSE GNL opened at $7.16 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve month high of $11.58. The business has a 50-day moving average price of $7.24 and a 200-day moving average price of $8.24.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were issued a dividend of $0.275 per share. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 15.36%. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s dividend payout ratio (DPR) is -63.58%.

Analysts Set New Price Targets

A number of brokerages recently commented on GNL. BTIG Research cut Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Thursday, April 18th. BMO Capital Markets initiated coverage on Global Net Lease in a research report on Tuesday, February 13th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.